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Ant Financial to invest in StoneCo

Oct 23, 2018 by The Passage Team
Ant Financial to invest in StoneCo

Chinese e-commerce giant Alibaba’s payment affiliate Ant Financial has agreed to buy USD 100 million shares of Brazilian card processor StoneCo Ltd in its initial public offering, StoneCo Ltd. securities filing documents stated.

Ant Financial is the latest high-profile backer to show interest in StoneCo’s IPO on Nasdaq that may raise up to USD 1.1 billion with share prices ranging from USD 21 to 23 apiece.

Warren Buffett’s Berkshire Hathaway Inc. also serves as a shareholder and has indicated interest in buying up to 14.2 million Class A shares.

Source: China Money Network

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